Sri Lanka President expects foreign reserves to improve in coming months


Apr 20, 2017 (LBO) – Sri Lanka’s President Maithripala Sirisena says country’s foreign reserves have already exceeded five billion US dollars and is expected to improve further in the coming months.

Addressing the media heads at the President’s House in Colombo today, he assured that the country is heading positively towards economic stability.

“The economy is very sound and there is no possibility at all about an economic collapse,” he said with confidence.

He said that the international market prices of tea, rubber and coconut have increased, thus there is a positive trend in foreign exchange earnings from these traditional exports.

President said that there will be changes in government activities within the next two weeks, including changes in heads of state institutions.

Asked if there is a cabinet reshuffle and changes of heads of state institutions, he replied that everybody would be able to see the changes before Vesak.

Speaking about the proposed new constitution, the President said the first rough draft would be presented by the Constitutional Committee within 2 or 3 weeks and thereafter it would be studied before the final draft is prepared.

Commenting about the SAITM issue, he said it would be solved by broad-basing its management, which is now a single ownership and open it to the stock market by listing it with the SEC.

He further said the medical college will be governed by a council of professional administrators.

Related: Sri Lanka foreign reserves fall to 7-year low in March

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